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2h ago

Five Years On, Pix Dominates Brazil’s Payments as Central Bank Tightens Rules After Fraud Wave

Officials aim to harden the system against large-scale scams without weakening the instant, low-cost experience users expect.

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Overview

  • Roughly 90% of Brazilian adults use Pix regularly, with activity nearing 7 billion transfers a month and an average ticket around R$190, according to official and academic data.
  • The Central Bank advanced mandatory authorization for fintechs to March 2026, set a R$15,000 per-transaction cap for certain unlicensed or tech-provider–mediated operations, and ordered the cancellation of improper pooled accounts.
  • Investigations and industry reporting cite about R$1 billion diverted in 2025 through institutions targeted by criminals, spurring the security push while preserving protections for individual users.
  • Pix accounted for 51.2% of all payment operations in Brazil in the second quarter, outpacing cards and boletos by volume even as TED remains larger by total value moved.
  • Financial inclusion deepened as people with relationships in the financial system rose to 204 million from 177.4 million since Pix’s launch, while cash in circulation trended down from the pandemic peak.